Shine Investment Advisory Services Inc. bought a new stake in shares of Alibaba Group Holding Limited (NYSE:BABA) during the second quarter, Holdings Channel reports. The firm bought 724 shares of the specialty retailer’s stock, valued at approximately $102,000.

Other hedge funds have also added to or reduced their stakes in the company. Regent Investment Management LLC raised its position in Alibaba Group Holding Limited by 45.1% in the first quarter. Regent Investment Management LLC now owns 5,310 shares of the specialty retailer’s stock valued at $573,000 after buying an additional 1,650 shares in the last quarter. Cullinan Associates Inc. purchased a new position in Alibaba Group Holding Limited during the first quarter valued at approximately $345,000. CWM LLC raised its position in Alibaba Group Holding Limited by 2.7% in the first quarter. CWM LLC now owns 11,665 shares of the specialty retailer’s stock valued at $1,258,000 after buying an additional 304 shares in the last quarter. Atria Investments LLC raised its position in Alibaba Group Holding Limited by 3.5% in the first quarter. Atria Investments LLC now owns 8,964 shares of the specialty retailer’s stock valued at $967,000 after buying an additional 305 shares in the last quarter. Finally, Parametrica Management Ltd purchased a new position in Alibaba Group Holding Limited during the first quarter valued at approximately $380,000. Hedge funds and other institutional investors own 36.75% of the company’s stock.

Alibaba Group Holding Limited (NYSE:BABA) opened at 157.49 on Thursday. The firm has a market cap of $398.45 billion, a P/E ratio of 62.32 and a beta of 2.64. Alibaba Group Holding Limited has a one year low of $86.01 and a one year high of $160.39. The stock has a 50 day moving average price of $149.30 and a 200-day moving average price of $121.89.

Alibaba Group Holding Limited (NYSE:BABA) last released its quarterly earnings data on Thursday, May 18th. The specialty retailer reported $0.63 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by $0.01. Alibaba Group Holding Limited had a net margin of 27.51% and a return on equity of 15.40%. The business had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.26 billion. During the same quarter last year, the firm earned $0.47 EPS. Analysts predict that Alibaba Group Holding Limited will post $4.60 EPS for the current fiscal year.

Alibaba Group Holding Limited declared that its board has authorized a stock buyback plan on Thursday, May 18th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the specialty retailer to reacquire shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

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Several research firms have recently commented on BABA. Zacks Investment Research upgraded shares of Alibaba Group Holding Limited from a “hold” rating to a “strong-buy” rating and set a $157.00 price target for the company in a research report on Thursday, June 15th. Royal Bank Of Canada restated a “buy” rating and set a $120.00 price target on shares of Alibaba Group Holding Limited in a research report on Tuesday, May 16th. Barclays PLC upped their price target on shares of Alibaba Group Holding Limited from $130.00 to $132.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 10th. Bank of America Corporation restated a “buy” rating and set a $161.00 price target (up previously from $144.00) on shares of Alibaba Group Holding Limited in a research report on Sunday, June 11th. Finally, Jefferies Group LLC restated a “buy” rating and set a $160.00 price target (up previously from $122.00) on shares of Alibaba Group Holding Limited in a research report on Monday, June 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating, thirty-two have given a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $142.21.

About Alibaba Group Holding Limited

Alibaba Group Holding Limited is a holding company. Through its subsidiaries, the Company is engaged in online and mobile commerce through offering of products, services and technology that enable merchants, brands and other businesses to transform the way they market, sell and operate in the People’s Republic of China (China) and internationally.

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Institutional Ownership by Quarter for Alibaba Group Holding Limited (NYSE:BABA)

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